On 8/6/06, raghu <[EMAIL PROTECTED]> wrote:
Leigh seems to think that anything out of the Fed is unreliable. It
is a very un-nuanced and extreme point of view ...<
The Fed has to provide stats to the financial community which the latter trust. It seems that the FC is slowly getting angry at the dropping of M3, so it may come back.
, but not wholly without justification. Any statistical number by its nature is misleading - what is a statistic afterall?<
a statistic is simply another kind of abstraction. The folks opposed to the use of all abstractions (including stats) use abstractions themselves all the time. Totally concrete thought is impossible. -- Jim Devine / "War is the health of the state" -- Randolph Bourne
